Crescendo Equity Partners Invests Over KRW 100 Billion in Cyberdigm
Cyberdigm, a Korean company specializing in document centralization solutions, has secured an investment of over KRW 100 billion from a domestic Private Equity Fund(PEF) Crescendo Equity Partners (hereafter referred to as Crescendo). Crescendo made this investment through its third blind fund, established in December 2021 with a total value of KRW 1.1 trillion. Crescendo decided to invest in Cyberdigm because they foresee a significant expansion in the document centralization market.
This market is growing globally due to factors like the acceleration of digital transformation, the spread of remote and hybrid work environments, increased risks of data breaches, and the need to prevent data loss. Particularly, cloud and SaaS products for small and medium-sized businesses, which account for about 88% of ransomware infection cases, are showing rapid growth. Cyberdigm plans to use the investment from Crescendo to develop technology, enhance its solutions, train specialized personnel, and expand into global markets.
Crescendo aims to support Cyberdigm’s growth in both the domestic and global enterprise application markets while maintaining a close partnership with Cyberdigm’s CEO and the existing management team, who have built a leading position in the document centralization market. Crescendo also intends to acquire leading cybersecurity, electronic document, and generative AI companies, both domestically and internationally, through a “bolt-on” strategy. Crescendo previously acquired the Belgian PDF solution company iText in 2018, which grew into a global software company with a valuation in the billions by 2022.
Park Sung-min, Deputy CEO of Crescendo, said, “Cyberdigm has established strong partnerships with over 1,000 industry-leading companies and is growing into a unique enterprise software specialist, not only in Korea but also in global markets.” He added, “We decided to invest in Cyberdigm because we believe it can meet the needs of both domestic and international companies with its technical expertise and high-quality solutions in areas like document security, human resources, collaboration, and deliverable management.”
Cyberdigm CEO Kim Kyung-chae stated, “We plan to use this investment as a springboard to further strengthen our market presence through aggressive sales and marketing, and we also have plans to expand internationally.” He expressed his ambition, saying, “We will not rest on our laurels as the leading company in integrated management of unstructured content in Korea. Instead, we will continue to push boundaries and conduct research to grow into a world-class enterprise software company.”
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